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Globalization occupies a central research activity and remains an increasingly controversial phenomenon in economics. This phenomenon corresponds to a subject that can be criticized through its impact on national economies. On the other hand, the world economy is evolving in a liberalized environment in which foreign direct investment plays a fundamental role in the economic development of each country. The advent of financial flows – FDI, remittances and official development assistance – can be a key factor in the development of the economy. The subject of this article is to analyses the effect of financial flows on economic growth in developing countries. Empirically, different approaches have been employed. As part of this work, an attempt was made to use a panel data approach. The results indicate ambiguous effects and confirm the results of previous work.

The authors seek to study the effect of foreign direct investment, remittances and official development assistance (ODA) and some control variables i.e. domestic credit, life expectancy, gross fixed capital formation (GFCF), inflation and three institutional factors on economic growth in developing countries by adopting the panel data methodology. Then, the authors will discuss empirical tests to assess the econometric relevance of the model specification before presenting the analysis of the results and their interpretations that lead to economic policy implications. As part of this work, the authors have rolled panel data for developing countries at an annual frequency during the period from 1990 to 2016. In a first stage of empirical analysis, the authors will carry out a technical study of the heterogeneity test of the individual fixed effects of the countries. This kind of analysis makes it possible to identify the problems retained in the specific choice of econometric modeling to be undertaken in the specificities of the panel data.

The empirical results validate the hypotheses put forward and indicate the evidence of an ambiguous effect of financial flows on economic growth. The empirical findings from this analysis suggest the use of economic-type solutions to resolve some of the shortcomings encountered in terms of unexpected effects. Governments in these countries should improve the business environment by establishing a framework that further encourages domestic and foreign investment.

In this article, the authors adopt the panel data to study the links between financial flows and economic growth. The authors considered four groups of countries by income.

This study aims to investigate the effects of economic policy uncertainty (EPU) on Italian hospitality sector. The investigation attempts to explain whether hotel performance drops when the perceived economic uncertainty increases in the period 2018–2022.

The study examines the impact of EPU on hotel performance in a sample of 661 Italian luxury hotels. To establish the relationship between EPU and hotel performance, we employ the generalized estimating equations (GEE) technique on 3,305 hotel-year observations.

The results show that EPU has a negative impact on hotel performance. More specifically, the analysis reveals that EPU is negatively and significantly related to the revenue per available room (REVPAR), average daily rate (ADR) and hotel occupancy (OCCR). We also look at the role of hotel brand chain affiliation and the moderating effect of conference space and hotel wellness services on the relationship between EPU and hotel performance.

Results provide new evidence for academics to critically evaluate the behavior of luxury hotels under uncertain economic conditions. The investigation offers valuable information also for government, tourism policymakers, tourist hotel owners, hoteliers and tourism managers in their decision-making.

This study provides strategic implications for practitioners and operators in hospitality industry to evaluate the factors ensuring hotel profitability in periods of EPU.

This paper provides interesting insights into the characteristics and practices of profitable hotels in Italy. Few econometric studies empirically explored the effects of EPU in the hospitality field so far and no prior study investigated this topic in the Italian hospitality sector. Therefore, this paper tries to close an important gap in the existing literature improving the understanding of EPU in the Italian hospitality industry.

With the recognition that generating economic growth is not the same as sustaining it, the challenge to catch-up and growth literature is discerning between these processes. Recent research suggests that the decline in the frequency of “shrinking” episodes is more important for long-term development than higher growth rates. By using a framework centred around social capabilities, this study aims to investigate the effects of income inequality and poverty on economic shrinking frequency, as opposed to previous literature that has exclusively had a growth focus. The aim is to investigate how and why some societies might be more resilient to economic shrinking.

The research is a quantitative study, and the authors build a longitudinal data set including 23 developing countries throughout 42 years to test the paper’s purpose. This study uses country and period fixed-effects specifications as well as cross-sectional graphical representations to investigate the relationship between proxies of economic inclusivity and the frequency of shrinking episodes.

The authors demonstrate that while inclusive societies are more resilient to shrinking overall, it is changes in poverty levels, but not changes in income inequality, that appear to be correlated with economic shrinking frequency. Inequality, while still an important element to explain countries’ growth potential as an initial condition, does not seem to make the sample more resilient to shrinking. The authors conclude that the mechanisms in which poverty and inequality are correlated with the catch-up process must run through different channels. Ultimately, processes that explain growth may intersect but not always overlap with the ones that explain resilience to shrinking.

The need for inclusive growth in long-term development has been championed for decades, yet inclusion has seldom been explored from the shrinking perspective. Though poverty reduction is already an important mainstream political objective, this paper differentiates itself by providing an alternate viewpoint of why this is important. Income inequality could have more of an economic growth limiting effect, while poverty reduction could be required to build resilience to economic shrinking. Developing countries will need both growth and resilience to shrinking, to catch-up with higher-income economies, which policymakers might need to balance carefully.

The government of Korea considers the promotion of Free Trade Agreements (FTA) as necessary to develop its economy into an open trading nation. As for the countries with which the Korean government is actively investigating possible FTAs, there are Japan, Singapore, the Association of South East Asian Nations (ASEAN,) and Mexico. For the time-being, the FTA with Japan seems to be a critical one in practicing Korea s FTA policy. Recently, Korean industries show negative positions against a Korea-Japan FTA, with strong opposition from the labor union insisting that it is evident that Korea will sustain damages in the short-run and the dynamic (long-term) benefits are still ambiguous and uncertain. Regardless of whether their argument is correct or not, it will be difficult for Korea to conclude the FTA with Japan unless there is concrete confidence of balanced economic gains through the FTA between the two countries.

Forestry carbon sink (FCS) is not only an important measure to deal with the current global climate change but also an effective way to build an ecological civilization. As an important form of implementation of FCS, the afforestation and reforestation projects under the clean development mechanism (CDM A/R) have important functions such as ecological protection and economic growth. This paper aims to evaluate the short-term and long-term impact of CDM on the county economy and its impact mechanism.

This paper first uses propensity score matching to match the county (treatment group). Second, this paper uses difference in difference to estimate the net effect of CDM A/R project on county economic development to reduce estimation error. Finally, the impact mechanism of implementing CDM A/R project on county economic development was tested.

The CDM A/R project has significantly promoted the development of real gross domestic product (GDP) and per capita real GDP in the region. Because of the long project cycle, this promotion is not immediate in the short term and has an obvious hysteresis effect. The longer the implementation time, the greater the promotion of the local economy will develop. The results are robust after the robustness test that uses the single-difference method. The CDM A/R project has promoted local economic growth by optimizing the local industrial structure, increasing the regional capital stock and raising the regional government’s fiscal revenue and expenditure.

This paper provides a critical overview of the relationship between clean development mechanism and local economic development.

Globalization occupies a central research activity and remains an increasingly controversial phenomenon in economics. This phenomenon corresponds to a subject that can be criticized through its impact on national economies. On the other hand, the world economy is evolving in a liberalized environment in which foreign direct investment plays a fundamental role in the economic development of each country. The advent of financial flows – foreign direct investment, remittances and official development assistance – can be a key factor in the development of the economy. The purpose of this study is to analyze the effect of financial flows on economic growth in developing countries. Empirically, different approaches have been used. As part of this study, an attempt was made to use a combined autoregressive distributed lag (ARDL) panel approach to study the short-term and long-run effects of financial flows on economic growth. The results indicate ambiguous effects. Economically, the effect of financial flows on economic growth depends on the investor’s expectations.

To study the short-run and long-run effects of financial flows on economic growth, this paper considers an empirical approach based on the panel ARDL. This model makes it possible to distinguish between the short-run effect and the long-run one. This type of model is based on three estimators, namely, mean group, pooled mean group (PMG) and dynamic fixed effect.

Results confirm the existence of a long-run relationship because the adjustment coefficient (error correction parameter) is negative and statistically significant. This paper finds that the PMG estimator is more consistent and more efficient. In the short-run, foreign direct investment do negatively affect economic growth, the effect is no significant in the long-run. On the other hand, the effect of remittances on economic growth is significant in the short-run. However, it is no significant in the long-run. Finally, the results suggest that the effect of official development assistance on economic growth is insignificant; both in the long-run and in the short-run.

To study the interaction between financial flows and economic growth, some empirical methodology are used such as the dynamic panel data and the autoregressive vector (VAR) model. In this study, we apply the panel ARDL model to analyze the short-run and the long-run effect for each financial flow on economic growth. The objective is to study the heterogeneity on dynamic adjustment in the short-term and long-term.

The study assesses the livelihood resilience strategies among street hawkers during COVID-19 lockdown in the Awutu Senya East Municipality in Ghana.

Using the explanatory case study approach, 12 participants (hawkers) were sampled with the aid of the purposive and convenience sampling techniques. An interview guide was used to collect data.

The study found that street hawking business, prior to the COVID-19 lockdown was a lucrative venture. The COVID-19 lockdown however had mental, psychological and economic effects on the street hawkers in ASEM causing stress, anxiety. loneliness, loss of business capital, and loss of jobs. Hawkers nevertheless demonstrated resilience in their psychological well-being by adopting strategies such as patronizing digital/social media platforms for funny content and entertainment. Hawkers also showed economic resilience through selling products on digital/social media platforms, relied on personal savings, received social support from family members and religious bodies. Government policies and interventions in the form of free water and electricity played a crucial role in building resilience of street hawkers during the COVID-19 lockdown.

The study shows that hawking is a vital avenue for entrepreneurial engagement reducing barriers to entry in formal trading, hence should be considered as key economic venture in the country’s economy. Again, the findings of the study deepen the understanding of stakeholders on the effects of COVID-19 on the psychological and economic life of street hawkers and offers insights into managing both psychosocial and financial stress during crises, emphasizing the potential benefits of resilient strategies for more effective crisis management. The study findings provide insights for government and policymakers on the experiences and coping mechanisms of the vulnerable groups and communities, particularly hawkers during the pandemic.

The study qualitatively assesses the psychological and economic effects of the COVID-19 lockdown and the livelihood resilience strategies employed by street hawkers during the COVID-19 lockdown in ASEM, Ghana.

This study aims to elucidate the quantitative and qualitative differences in employment development between German districts. Building on ideas from competitive development and resource-based theory, the paper particularly seeks to explain enduring East-West differences between rural regions by two different forms of competitive advantage: cost leadership and quality differentiation.

This study follows a two-step empirical approach: First, an extended shift-share regression is conducted to analyze employment development in Western and Eastern German districts between 2007 and 2016. Second, the competitive share effect and other individual terms of the shift-share model are further examined in additional regressions using regional economic characteristics as exogenous variables.

The findings suggest that the above-average employment growth of the rural districts in the West is owed to the successful exploitation of experience in manufacturing that has been gathered by firms in the past 100 years or so. While their strategy is largely based on advanced and specialized resources and an innovation-driven differentiation strategy, the relatively weak employment development of Eastern rural districts might be explained by a lack of comparable long-term experiences and the related need to focus on the exploitation of basic and general resources and, accordingly, on the efficiency-based strategy of cost leadership.

This study offers an in-depth empirical analysis of how the competitive share effect, i.e. region-specific resources beyond industry structure, contributes to regional employment development. The analysis reveals that quantitative differences in rural employment development are closely related to qualitatively different levels of input factors and different regimes of competitiveness.

The study responds to the calls for multilevel approaches in entrepreneurship research and seeks to answer whether the relationships between personal values and entrepreneurship remain stable across different economic conditions, using the unemployment rate as a moderator. It pays attention to the solo self-employed and women, as these groups are particularly vulnerable when crises occur.

We use Schwartz's theory of human values, which has been understudied in entrepreneurship and follow a correlational research design with micro and macro variables. Multilevel logistic regression is applied to the data from the large sample of 151,032 individuals participating in six waves of the European Social Survey. Solo self-employed are distinguished from those employing others, and analyses are run separately for men and women to understand gender differences.

The findings show that self-direction and achievement are positively, and benevolence and security negatively related to entrepreneurship. The high unemployment rate lowers the positive relationships with self-direction and achievement and mitigates the negative relationship with security, but only for the solo self-employed and not for employers. Results mostly hold for both genders.

The study suggests that security-related values should not be omitted from entrepreneurship research focused on entrepreneurs' values. It also emphasizes the need to distinguish between various subgroups of entrepreneurs and their motivation, which is important for efficient active labor market policies.

The study utilizes multilevel analyses that account for individual- and country-level influences on entrepreneurial activity. It contributes to understanding how economic context influences value salience and supports the applicability of Schwartz's theory of human values in entrepreneurship.

China is currently developing and promoting an industrial cluster policy at the government level. By enacting the ‘Opinion on promoting industrial cluster development’, China is supporting the development of industrial clusters. Building an industrial cluster is done by using a single factor but requires many additional factors like regional characteristics, competitiveness factors are also diversified. To evaluate the competitiveness of the Chinese automobile industry cluster, a competitiveness element index should be developed and a competitiveness evaluation method is needed to evaluate the importance of each element. To accomplish this objective, this research applied the analytic hierarchy process (AHP) and focused on the importance of the competitiveness elements.

This research investigated the character is tics regarding cases of clusters and also analyzed the competitiveness of the Changchun automobile cluster located in northeastern China. The purpose of this research is to help Korean enterprises who enter China in the hopes that Korea will emerge as a top automobile production country.